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What is the formula for difference between simple interest and compound interest?
Wiki User
∙ 12y ago
P(r/100)^2
Wiki User
∙ 12y ago
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How do you figure out your total amount of money after interest?
It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07). For compound interest, the formula is A = P(1+r)t.
What is the formula for quarterly compounded interest in M S Excel?
Although Microsoft excel does not include a function for determining compound interest , you can use following formula for this calculation.=PV*(1+r)^NWhere PV = Present Valuer = Interest RateN = No of investment period.E.g1000 is deposit amount at 10% interest for 5 years, then formula is=1000*(1+0.10)^5The answer will be 1,610.51
HOW TO FIND compound interest?
So you use the formula balance=principal(1+n over the number of years the the exponent ;0
What is the correct formula for compound interest?
Suppose the amount invested (or borrowed) is K, Suppose the rate of interest is R% annually, Suppose the amount accrues interest for Y years. Then the interest I is 100*K[(1 + R/100)^Y - 1]
Can you give me the continuous compound interest formula?
Compound Interest FormulaP = principal amount (the initial amount you borrow or deposit)r = annual rate of interest (as a decimal)t = number of years the amount is deposited or borrowed for.A = amount of money accumulated after n years, including interest.n = number of times the interest is compounded per yearExample:An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly. What is the balance after 6 years?Solution:Using the compound interest formula, we have thatP = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore, So, the balance after 6 years is approximately $1,938.84.
WHAT does the carrot in the formula for compound interest means?
There is no carrot in the compound interest formula!
What is the different between the chemical name and the chemical formula for a compound?
The chemical name refers to the full name of a compound, while the chemical formula represents the composition of elements in that compound using symbols and subscripts. The chemical formula provides information about the elements and their ratios in the compound, while the chemical name typically includes the names of the elements and possibly other descriptive terms.
How do you solve compound interest formula for n?
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
What is the difference between strontium chloride and lithium chloride?
Strontium chloride is a compound of lithium and chlorine with the formula SrCl2. Lithium chloride is a compound of lithium and chlorine with the formula LiCl.
What is the difference between formula H 2 and formula HCI?
H2 is the formula for pure Hydrogen gas, whereas HCl is Hydrochloric Acid, which is a compound of Hydrogen and Chlorine.
How would you determine the difference between an ionic and covalent compound from its chemical formula?
To determine the difference between an ionic and a covalent compound from its chemical formula, you can look at the elements involved. Ionic compounds typically involve a metal and a nonmetal, while covalent compounds involve nonmetals only. Additionally, if the compound contains a metal combined with a polyatomic ion, it is likely ionic.
What is the difference between drag slicks and formula 1 slicks?
No technical difference other than compound and size. Slick is just that there are no grooves in the surface (No tread).
What is the formula for a simple compound interest rate?
Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.
What is the formula for compound rubidium and chlorine?
The formula for compound rubidium and chlorine is RbCl. In this ionic compound, rubidium (Rb) is a metal and chlorine (Cl) is a non-metal. They combine in a 1:1 ratio to form rubidium chloride.
What is the difference between compound and formula?
A compound is a substance made up of two or more elements that are chemically bonded together. A formula, on the other hand, is a representation of the elements in a compound and the ratio in which they combine, expressed using chemical symbols and numbers. In essence, a formula shows the composition of a compound while the compound itself refers to the actual substance formed.
What is the formula of the ionic compound formed between magnesium and chlorine?
The formula for the ionic compound formed between magnesium and chlorine is MgCl2. Magnesium, with a 2+ charge, forms an ion while chlorine, with a 1- charge, forms one ion, resulting in a 1:2 ratio in the compound.
What is a properly written formula for a compound between copper and bromine?
The chemical formula for the compound between copper and bromine is CuBr₂.
